There is Life After Retrenchment

There is Life After Retrenchment

These survival tips will help you cope better if you are laid off

With the current financial crisis and medical disturbances (CONVID-19), there are many reasons why companies are retrenching employees if they cannot be redeployed.

Companies are freezing wages and hiring. Some are relocating to other countries with lower costs. Others may wind up their operations totally. What if you are caught in the crossfire and made redundant?

Here are some tips to cope better if you are laid off during this financial crisis.

  • Reframe Your Beliefs

First, accept the fact that your services are not required by your current employer. It is natural to feel shocked and angered by this, but sooner or later, you will have to move on. You are afraid to step out of your comfort zone to experience new growth. You are not alone. Many people don’t bother to stretch themselves. They remain somewhat contented in this zone as they are complacent, safe and sound.

Your comfort zone is dictated by change. The harder you fight change and resists its force, the more difficult it is to break through and move forward.

Begin with embracing small changes incrementally and adapting to the new environment. Then you can move on. A tree grows a small bit at a time, adding layers to its foundation for greater strength and stability in the future. Be like the tree and grow daily.

Technology and ways of doing business are evolving every day. Sooner or later, you will be left behind if you do not act. Go with the time, playing it safe is usually not an option. You must continue to learn or risk falling behind.

  • Work In Different Industry

If your current industry is described as being in its sunset phase, it is probably not a wise choice to stay in it. You may want to consider a career in another industry. Although your salary package might be reduced, at least you are still engaged in the workforce. Alternatively, you can take on a part-time job. This will help to ease your current cash flow problems and give you more time to decide what you want your next job to be.

  • Upgrade Your Skills

Enrol for courses to upgrade your skills. It’s never too late to improve. Business writing, communication, resume writing and presentation courses boost your soft skills and directly impact your chances of finding a new job. Next, decide which technical skills you need to work on to make yourself more employable.

Singapore is offering SkillsFuture funding. Choose a course that is suitable for you. Any eligible participants will be able to tap on the fund for upgrading your skills.

Click here for more details on how to enjoy the skills future subsidy.

  • Network

Don’t sit in front of the computer or stay at home for too long. Participate in a variety of networking events to broaden your knowledge and build up your circle of contacts. You will be able to find people with common interests. Networking also provides fresh information about new openings and other career opportunities.

  • Work On Your Resume

If you have worked at the same company for a long time, your resume will be outdated. You may want advice from a professional resume writer or attend courses on how to create an impressive resume.

Put in some relevant keywords in your resume sparingly so that recruiters can picks up your profile from the sea of applicants.

  • Update Your Image

It’s not enough to be smart. You have to look smart too. Read up on how to present a professional and well-groomed image to boost your job search. You can even invest in the services of an image consultant if you think you need a dramatic overhaul. When you feel good about yourself, you will appear confident and make a good impression on your interviewers.

Update your profile picture every few years. Do not insert any holiday pictures in your resume when you are applying for a professional role. Employers are looking at the professional side of you.

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